Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs

Quah, Danny (2002) Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs. CEP discussion paper; CEPDP0534, 534. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

Many cultural products have the same nonrival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic: societies tolerate monopolistic inefficiency in intellectual property (IP) protection to incentivize the creation and distribution of intellectual assets. This paper examines that tradeoff in dynamic, representative agent general equilibrium, and characterizes socially efficient creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 2002 Danny Quah
Uncontrolled Keywords:	cultural good, finitely expansible, innovation, intellectual asset, intellectual property, Internet, IP valuation, IPR, knowledge product, MP3, nonrival, software
Library of Congress subject classification:	H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System:	D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O30 - General
Sets:	Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) Departments > Economics
Rights:	http://www.lse.ac.uk/library/rights/LSERO.htm
Identification Number:	534
URL:	http://eprints.lse.ac.uk/2083/

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